Microbot Medical Increases Executive Salaries and Bonuses for 2025

Microbot Medical Inc. (NASDAQ: MBOT) reported in a recent 8-K filing that the company has made significant changes in executive compensations and bonuses, effective from February 5, 2025. The adjustments have been outlined as follows:

Firstly, the annual base salary of Simon Sharon, who serves as the Chief Technology Officer and General Manager of the Company’s Israel facilities, has been raised to NIS 960,000 for the 2025 fiscal year. This modification has been formalized in an Addendum #2 to Employment Agreement, dated February 5, 2025, known as the “Sharon Agreement.”

Secondly, Rachel Vaknin, the Chief Financial Officer, will also see an increase in her annual base salary to NIS 720,000 for 2025. Additionally, certain travel benefits for Vaknin have been adjusted from NIS 1,000 per month to NIS 5,000 per month. These changes have been documented in an Addendum #2 to Employment Agreement, also dated February 5, 2025, known as the “Vaknin Agreement.”

Juan Diaz-Cartelle, the Chief Medical Officer of the company, has had his maximum annual bonus raised from up to 30% of his base salary to a maximum of up to 35% for the 2025 fiscal year. The details of this increase are outlined in an Amendment to Employment Agreement, dated February 5, 2025, known as the “Diaz-Cartelle Agreement.”

The specifics of the Sharon Agreement, Vaknin Agreement, and Diaz-Cartelle Agreement, including all terms, have been attached as Exhibits 10.1, 10.2, and 10.3, respectively, to the Current Report on Form 8-K. It is important to note that the description provided in the filing is not exhaustive, and the complete terms can be referred to in the exhibits.

In the same filing, Microbot Medical listed these changes under Item 1.01 for the Entry into a Material Definitive Agreement and Item 5.02 for the Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers. The financial details and related agreements are made available for public review as per Item 9.01, which covers Financial Statements and Exhibits.

As per the filing, Microbot Medical confirmed the regulatory compliance by providing the required signatures on February 7, 2025. The company’s Chief Executive Officer, President, and Chairman, Harel Gadot, signed the document on behalf of Microbot Medical Inc.

This move by Microbot Medical symbolizes a strategic decision to attract, retain, and incentivize the executive leadership team for the company’s ongoing operations and future growth prospects.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Microbot Medical’s 8K filing here.

About Microbot Medical

Microbot Medical Inc, a pre-clinical medical device company, engages in the research, design, and development of robotic endoluminal surgery devices targeting the minimally invasive surgery space. The company offers LIBERTY, an endovascular robotic surgical system which allows physicians to conduct a catheter-based procedure from outside the catheterization laboratory, and avoid radiation exposure, physical strain, and the risk of cross contamination for use in cardiovascular, peripheral, and neurovascular spaces.